Study Guide #1 1. 2. 3. 4.
What is the Law of Tannstafal? Explain its meaning. Define Economics and explain the meaning of the Institutional Structure. What are the two aspects of scarcity? Describe the coordination problems of the ec
Study guide 1. 2. 3. 4. 5. 6.
Define demand. State and explain the Law of Demand. Name the shift factors of demand. With the use of a diagram explain the impact of a change in income on demand. Describe the influence of related goods on c
Study guide Test #3
ECONOMIC GROWTH 1. Define GDP and explain the definition. 2. An increasing GDP does not indicate that all persons in the economy are better-off. Explain. 3. Understand the two methods of calculating the GDP. 4. What is the Bus
STUDY GUIDE ECON 201 Unemployment.
1. Describe the history of unemployment. 2. Clearly understand: a. b. c. d. e. f. g. h. i. j. k. l. m. n. Potential output Target rate of unemployment Capacity utilization rate Frictional unemployment Structural
NORTHERN VIRGINIA COMMUNITY COLLEGE (ANNANDALE) ECONOMICS 201 (MACROECONOMICS) TTH 11.00-12.15 Spring 2010 INSTRUCTOR: Dr. JACINTHA JAYATILAKE OFFICE: CN214 A OFFICE HOURS: TTH 8.00-9.30/W 5.30-7.30 or by appointment. PHONE: (703) 323-2154 FAX: (703) 323-